Entrepreneurship 101: Six Questions You Need to Answer | Ep. 51

Key Takeaways

• 1

  Answer the six core questions (who, what, when, where, why, how) before launching or scaling a business

  Treat your brand like a story and systematically answer the classic journalism questions

  Revisit these questions periodically as you grow and pivot

  This framework prevents aimless "throwing spaghetti at the wall" marketing

• 2

  Dig deep into your "why" at least 5–10 times to uncover intrinsic motivation

  Intrinsic motivation sustains you through the hardest days of entrepreneurship

  Write your why on a whiteboard or visible place so you can reference it daily

  Extrinsic motivators (money, fame) are weaker long-term drivers than intrinsic ones

• 3

  Define a precise customer avatar instead of trying to serve "everyone"

  Create a detailed persona: demographics, location, income, habits, media consumption

  Tailor all marketing and product decisions to this avatar first

  Other people may still buy, but focus prevents diluted messaging

• 4

  Use SMART goals with strict time-bound deadlines for launches and growth

  Timing matters—launching Money Talk with Tiff in December aligned with post-holiday financial pain points

  Even if a product launches next year, set the date now to create accountability

  Businesses often fail within 3–5 years due to lack of capital planning

• 5

  Match marketing channels to where your specific audience already spends time

  Research differences between LinkedIn, Instagram, TikTok, podcasts, YouTube, etc.

  Ask whether your audience prefers reading, watching, or listening

  Directing efforts instead of broadcasting randomly leads to bigger gains